Unacademy, a leading Indian EdTech startup values at $510 Million after the latest round of fundraising worth $110 million. The new investors in the latest round of fundraising included the likes of social media giant Facebook and a leading private equity firm General Atlantic.
Notably, Unacademy has become the second Indian startup to receive investment from the social media giant. Facebook had earlier made its first minority investment in India in Meesho, a marketplace for resellers.
Some of the Unacademy’s existing investors including Steadview Capital, Nexus Venture Partners, Blume Ventures, and Sequoia India also participated in the recent round of fundraising. Moreover, Flipkart CEO Kalyan Krishnamurthy and Udaan co-founder Sujeet Kumar also invested in the startup in their individual capacities.
Journey of Unacademy from YouTube to a leading EdTech startup
Interestingly, Unacademy was initially set up as an educational YouTube channel by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta back in 2016.
The Bangalore-based Education technology firm has now grown to around 10,000 educators and more than 90,000 active subscribers. Notably, with a mission to transform Education in India, Unacademy has emerged as the fastest-growing EdTech startup in the country.
It primarily focuses on helping aspirants clear competitive exams in the country. Its officials have added that the firm will utilize the money raised from the recent round for increasing the total number of competitive exams it serves. Unacademy founders are hoping to bring more educators to its platform in order to further improve the quality of their content.
Gaurav Munjal, Unacademy CEO said that the company had initially begun to monetize around a year ago. He further shared that their overall revenues have gone from Rs. 2 crores in the first month to Rs. 18 crores in the previous month.